Southern California builders start discounting new homes

Southern California builders start discounting new homes

Homebuilders this past summer faced many of the same challenges as owners trying to sell their houses — buyers balking at high prices and even higher mortgage rates.
The number of completed new home sales in Los Angeles and Orange counties in 2022’s first eight months was 20% below the previous year’s pace, according to CoreLogic data. Builder sales fell 8% in the Inland Empire.
The sales slump…

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